Brokers seek clearing transparency

Price transparency isn't just a front-office concern for brokers as many are seeking better transparency from European exchanges about clearing and settlement tariffs so that firms can calculate fees as a proportion of value traded.

"Some post-trade proprietors are direct-debiting money from us, the clients, before they give us the invoices," said Robert Barnes, managing director, equities with UBS, who spoke at a recent exchange and trading venue conference in London. Lower, transparent costs w

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